Japanese Honda Motor and Korean LG Energy Solutions signed an agreement on August 29 to build a joint venture for the production of lithium-ion batteries for electric vehicles, the plant will be located in the United States.
These batteries will power North American-made Honda and Acura electric vehicles.
The investment project for the construction and equipping of the new plant is estimated at $4.4 billion.
It is planned to launch it in 2025. The company will annually produce batteries with a total capacity of about 40 GWh.
Recall that in mid-August, Honda introduced the Acura Precision EV concept crossover – it sheds light on the future production electric car of the Acura brand.
Honda and LG to invest $4.4 billion in new EV battery plant
